I just spent two hours analysing the results/announcements.
I think the results were outstanding. I think the China story will continue for a longtime, resulting in strong continuing demand for iron ore, coking coal and copper in particular. In addition, they have invested in a lot of projects that will be profitable in the future eg Mongolia and Riversdale.
My holding in Rio is around 20% of my SMSF and I bought in at $88 so I hope the share price improves...In this market it would be like expecting the Federal Labor Govt to turnaround its fortunes.
The only thing that you could rightfully complain about is the proverbial tight as dividend.
results vs the market, page-11
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Last
$113.65 |
Change
-0.340(0.30%) |
Mkt cap ! $42.03B | |||
| Open | High | Low | Value | Volume |
| $113.72 | $113.86 | $113.00 | $22.74M | 198.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 69 | $113.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $113.65 | 98 | 5 |
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| Last trade - 11.26am 22/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |